Given the Following Adjusted Tabular Summary Amounts Net Income for the Year Is:
A)$198

Given the following adjusted tabular summary amounts: $\begin{array} { l r } \text { Cash } & \$ 1,662 \\\text { Accounts receivable } & 2,098 \\\text { Inventory } & 3,124 \\\text { Prepaid rent } & 86 \\\text { Equipment } & 300 \\\text { Accumulated depreciation-equipment } & 52 \\\text { Accounts payable } & 82 \\\text { Unearned service revenue } & 122 \\\text { Common stock } & 206 \\\text { Retained earnings } & 6,610 \\\text { Service revenue } & 368 \\\text { Interest revenue } & 56 \\\text { Salaries and wages expense } & 160 \\\text { Travel expense } & 66\end{array}$ Net income for the year is:

A) $198.
B) $370.
C) $424.
D) $596.

Correct Answer:

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